Small business owners may not have as many employees or clients as large corporations, but that does not mean they live a worry free life. When it comes to owning a small business, there are many factors to consider on a day-to-day basis. Making sure you are covered with the proper business insurance can help ease your mind of any problems your business might face.
There are over 28 million small businesses in America. All of these small businesses employ one-third of the population. Almost 50% of small business owners think that they will expand their businesses in 2014.
There are many issues with the business of doing business that business owners have to deal with every day. These can range from internal issues such as talent management, or recruiting and retaining staff or functionality and reliability of technology. There are also many outside factors to deal with, some which are much larger than the company itself. There can be issues with government regulations, taxes, and healthcare reform. There can also be concerns with financing and the decreasing ability to acquire funds. Most small business owners find customer acquisition and retention to be the biggest concerns.
When it comes to business insurance claims, there are three major claims that small businesses file. Accounting for 25% of claims is loss of company data, usually through an issue reported with a computer. The other two major claims are loss of income when a small business closes, and damage to the building or the contents from disasters such as fires or earthquakes.
Small business insurance can help provide security for small business owners as well as the business itself. When it comes to finding the best business insurance at highly competitive prices, contact Weeks and Associates Insurance Services. They can make sure you get the best insurance to best fit your company’s needs.